Latest news with #DanielleRomeroApsilos
Yahoo
14 hours ago
- Business
- Yahoo
Citigroup Reports Second Quarter 2025 Results
NEW YORK, July 15, 2025--(BUSINESS WIRE)--Today Citigroup reported second quarter 2025 results, which can be found on its website at A Quarterly Financial Data Supplement with additional financial, statistical and business-related information, as well as business and segment trends, is also available. Citi will host a conference call today at 11 a.m. (ET) to review these results. To attend the live webcast, please visit A replay and transcript of the webcast will be available shortly after the event. About Citi Citi is a preeminent banking partner for institutions with cross-border needs, a global leader in wealth management and a valued personal bank in its home market of the United States. Citi does business in more than 180 countries and jurisdictions, providing corporations, governments, investors, institutions and individuals with a broad range of financial products and services. Additional information may be found at | X: @Citi | LinkedIn: | YouTube: | Facebook: View source version on Contacts Media:Danielle Romero Apsilos(212) 816-2264 Investors:Jennifer Landis(212) 559-2718
Reuters
08-05-2025
- Business
- Reuters
Citigroup must face $1 billion lawsuit claiming it aided Mexican oil company fraud
May 8 (Reuters) - Citigroup (C.N), opens new tab must face a revived lawsuit claiming it caused more than $1 billion of losses by orchestrating and concealing a vast fraud at the now-bankrupt Mexican oil and gas services company Oceanografia, a U.S. appeals court ruled on Thursday. A three-judge panel of the 11th U.S. Circuit Court of Appeals in Miami said 30 Oceanografia vendors, creditors and bondholders adequately alleged that Citigroup substantially aided the fraud, and a lower court judge erred in dismissing the nine-year-old case. Danielle Romero-Apsilos, a Citigroup spokeswoman, declined to comment. Juan Morillo, one of the plaintiffs' lawyers, said his clients were gratified by the decision. Citigroup's Banamex unit had provided cash advances to Oceanografia, which provided drilling services to Mexico's state-owned oil company Petroleos Mexicanos (Pemex) ( and collected interest payments on the advances. The plaintiffs, including shipping and leasing companies, investment funds and Netherlands-based Rabobank, said Citigroup advanced $3.3 billion to Oceanografia between 2008 and 2014 despite knowing the company had too much debt and had been forging Pemex signatures on authorization forms. Citigroup later found nearly $430 million of fraudulent cash advances, and was fined, opens new tab $4.75 million by the U.S. Securities and Exchange Commission in 2018 over Banamex's internal controls. Former Citigroup Chief Executive Michael Corbat said the bank fired 12 employees, and Mexican regulators said 10 bank employees were criminally liable under Mexican law. In an 82-page decision, Circuit Judge Britt Grant found sufficient allegations that Citigroup withheld key information about Oceanografia from the plaintiffs, with the interest payments providing a financial incentive. "Citigroup is one of the world's most sophisticated financial institutions, and it strains credulity to conclude that, assuming the plaintiffs' allegations are true, Citigroup lacked awareness of (Oceanografia's) activities," she added. The court returned the case to U.S. District Judge Darrin Gayles in Miami, who dismissed it in August 2023. The case is Otto Candies LLC et al v Citigroup Inc, 11th U.S. Circuit Court of Appeals, No. 23-13152.
Yahoo
15-04-2025
- Business
- Yahoo
Citigroup Reports First Quarter 2025 Results
NEW YORK, April 15, 2025--(BUSINESS WIRE)--Today Citigroup reported first quarter 2025 results, which can be found on its website at A Quarterly Financial Data Supplement with additional financial, statistical and business-related information, as well as business and segment trends, is also available. Citi will host a conference call today at 11 a.m. (ET) to review these results. To attend the live webcast, please visit A replay and transcript of the webcast will be available shortly after the event. About Citi Citi is a preeminent banking partner for institutions with cross-border needs, a global leader in wealth management and a valued personal bank in its home market of the United States. Citi does business in more than 180 countries and jurisdictions, providing corporations, governments, investors, institutions and individuals with a broad range of financial products and services. Additional information may be found at | X: @Citi | LinkedIn: | YouTube: | Facebook: View source version on Contacts Media: Danielle Romero Apsilos (212) 816-2264Investors: Jennifer Landis (212) 559-2718 Sign in to access your portfolio
